New York Bond (Form: L-9) for Wholesalers is a surety bond that is required by the New York State Department of Financial Services for insurance companies that wish to do business in the state of New York. This bond is an agreement between the insurance company (Principal) and the surety company that guarantees the accuracy of the Principal's financial statements, the payment of any claims or judgments against the Principle, and that the Principal will abide by all state laws and regulations governing the insurance business. The bond amount is typically determined by the state, and must be renewed annually. The bond also provides protection for consumers in the event of any fraudulent, deceptive, or illegal activities by the Principal. There are two types of New York Bond (Form: L-9) for Wholesalers. Note: For use by Insurance Companies only: the Fixed Bond and the Variable Bond. The Fixed Bond is a one time payment that does not change over the course of the year, while the Variable Bond is a renewable bond that is adjusted based on the Principal's financial activity.
New York Bond (Form: L-9) for Wholesalers. Note: For use by Insurance Companies only.
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How to fill out New York Bond (Form: L-9) For Wholesalers. Note: For Use By Insurance Companies Only.?
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